Underwood Family Foundation
Underwood Family Foundation maintains strong asset growth and low liabilities with no reported officer compensation.
EIN: 201487042 · Ames, IA · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.1M |
| Total Expenses | $772K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $14 |
| Net Assets | $14.4M |
| Transparency Score | 92/100 |
Is Underwood Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Underwood Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Underwood Family Foundation
Underwood Family Foundation (EIN: 201487042) is a nonprofit organization based in Ames, IA, classified under NTEE code T22. The organization reported total revenue of $1.1M and total assets of $14.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Underwood Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Underwood Family Foundation is a mid-size nonprofit that has been operating for 21 years, with 11 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 0.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $750K |
| Total Expenses | $772K |
| Surplus / Deficit | $-22,546 |
| Total Assets | $14.4M |
| Total Liabilities | $25K |
| Net Assets | $14.4M |
| Operating Margin | -3.0% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 223.9 months |
Financial Health Grade: B
In 2023, Underwood Family Foundation reported a deficit of $23K with expenses exceeding revenue, holds 223.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 11 years of filings (2010–2023), Underwood Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -48.9% | -2.3% | -0.2% |
| 2022 | +8.3% | +27.9% | +4.6% |
| 2021 | -24.7% | +3.3% | +5.7% |
| 2020 | +128.6% | -7.9% | +10.0% |
| 2019 | +4.3% | +34.2% | +6.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Underwood Family Foundation with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Underwood Family Foundation allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $23K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
The Underwood Family Foundation consistently reports 0% officer compensation across all available filings, indicating that its leadership is either unpaid or compensated through other means not classified as officer compensation, which is highly favorable for a nonprofit of its size with assets exceeding $14 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Underwood Family Foundation's IRS 990 filings:
- Significant year-to-year revenue volatility, making future income less predictable.
Strengths
The following positive indicators were identified for Underwood Family Foundation:
- Consistent asset growth, from $2,099,976 in 2011 to $14,405,334 in 2023, demonstrating strong financial management.
- Extremely low liabilities, consistently under $25,000, indicating excellent financial stability.
- 0% reported officer compensation across all filings, suggesting high dedication and efficient use of funds.
- Long and consistent filing history (11 filings), indicating good transparency and compliance.
- Strong program focus implied by the nature of a family foundation and low administrative overhead.
Frequently Asked Questions about Underwood Family Foundation
Is Underwood Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Underwood Family Foundation (EIN: 201487042) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Underwood Family Foundation spend its money?
Underwood Family Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Underwood Family Foundation tax-deductible?
Underwood Family Foundation is registered as a tax-exempt nonprofit (EIN: 201487042). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Underwood Family Foundation CEO make?
Underwood Family Foundation's highest-compensated officer earns $14 annually. The organization reported $1.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Underwood Family Foundation's spending goes to programs?
Underwood Family Foundation directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Underwood Family Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Underwood Family Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Underwood Family Foundation located?
Underwood Family Foundation is headquartered in Ames, Iowa and files with the IRS under EIN 201487042. It is classified under NTEE code T22.
How many years of IRS 990 filings does Underwood Family Foundation have?
Underwood Family Foundation has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.1M in total revenue.
How does the Underwood Family Foundation manage to have 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the foundation's leadership may be entirely volunteer-based, or that any compensation is structured in a way that it is not reported under 'officer compensation' on the IRS Form 990, which is a strong indicator of dedication to its mission.
What caused the significant revenue fluctuation, particularly the $7.4 million in 2012?
The substantial revenue spike to $7,400,210 in 2012, compared to other years, likely indicates a large one-time donation, a significant investment gain, or a major asset transfer. This type of fluctuation is common for foundations receiving large endowments or bequests.
Is the slight operational deficit in 2023 ($749,598 revenue vs. $772,144 expenses) a concern?
A slight operational deficit in a single year is generally not a significant concern for a foundation with substantial assets ($14,405,334 in 2023). Foundations often strategically spend down assets or distribute grants that exceed annual revenue in certain periods, especially if they have accumulated reserves.
Filing History
IRS 990 filing history for Underwood Family Foundation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2010–2023), Underwood Family Foundation's revenue has grown by 1%, moving from $742K to $750K. Total assets increased by 620.5% over the same period, from $2.0M to $14.4M. Total functional expenses rose by 1134.6%, from $63K to $772K. In its most recent filing year (2023), Underwood Family Foundation reported a deficit of $23K, with expenses exceeding revenue. The organization holds $25K in liabilities against $14.4M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $14.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $750K | $772K | $14.4M | $25K | — | View 990 |
| 2022 | $1.5M | $790K | $14.4M | $1K | — | View 990 |
| 2021 | $1.4M | $618K | $13.8M | $25K | — | — |
| 2020 | $1.8M | $598K | $13.1M | $2K | — | — |
| 2019 | $787K | $649K | $11.9M | $2K | — | View 990 |
| 2015 | $755K | $483K | $11.1M | $1 | — | View 990 |
| 2014 | $583K | $537K | $10.9M | $0 | — | View 990 |
| 2013 | $1.6M | $97K | $10.8M | $0 | — | View 990 |
| 2012 | $7.4M | $223K | $9.3M | $0 | — | View 990 |
| 2011 | $384K | $104K | $2.1M | $0 | — | View 990 |
| 2010 | $742K | $63K | $2.0M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $750K, expenses of $772K, and assets of $14.4M (revenue -48.9% year-over-year).
- 2022: Revenue of $1.5M, expenses of $790K, and assets of $14.4M (revenue +8.3% year-over-year).
- 2021: Revenue of $1.4M, expenses of $618K, and assets of $13.8M (revenue -24.7% year-over-year).
- 2020: Revenue of $1.8M, expenses of $598K, and assets of $13.1M (revenue +128.6% year-over-year).
- 2019: Revenue of $787K, expenses of $649K, and assets of $11.9M (revenue +4.3% year-over-year).
- 2015: Revenue of $755K, expenses of $483K, and assets of $11.1M (revenue +29.5% year-over-year).
- 2014: Revenue of $583K, expenses of $537K, and assets of $10.9M (revenue -64.6% year-over-year).
- 2013: Revenue of $1.6M, expenses of $97K, and assets of $10.8M (revenue -77.7% year-over-year).
- 2012: Revenue of $7.4M, expenses of $223K, and assets of $9.3M (revenue +1828.3% year-over-year).
- 2011: Revenue of $384K, expenses of $104K, and assets of $2.1M (revenue -48.3% year-over-year).
- 2010: Revenue of $742K, expenses of $63K, and assets of $2.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Underwood Family Foundation:
Data Sources and Methodology
This transparency report for Underwood Family Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.